Can I make a tax-free rollover from a 529 (college savings) account to a Roth IRA?

Yes, beginning on January 1, 2024. The rollover must be to a Roth IRA account in the name of the Oregon College Savings Plan (OCSP) beneficiary, not in the name of the account owner/participant. In addition, the OCSP account must have been open for a minimum of 15 years prior to the rollover to qualify as tax-free.

Important Note: A 529-to-Roth IRA rollover may have tax consequences. The 529 plan participant/account owner and 529 plan account designated beneficiary/Roth IRA owner are solely responsible for complying with all relevant IRS Rules, including any guidance released by the IRS in the future. You should speak with a qualified tax professional prior to making a 529-to-Roth IRA Rollover.